Home / Business and Economy / Embassy REIT Leases 1.5M Sq Ft, Posts Record Distribution
Embassy REIT Leases 1.5M Sq Ft, Posts Record Distribution
28 Oct
Summary
- Embassy REIT leased over 1.5 million square feet in Q2 FY27.
- Company achieved its highest quarterly distribution of Rs 670 crore.
- Global capability centers drove 85% of leasing demand.
Embassy Office Parks REIT has reported a robust performance, leasing more than 1.5 million square feet of office space in the second quarter of fiscal year 2026-27. This achievement was significantly influenced by global capability centers (GCCs), which accounted for 85% of the leasing demand during this period.
For the quarter ending September, the REIT declared its highest-ever quarterly distribution, amounting to Rs 670 crore, marking a 9% year-on-year increase. New leases were secured at an average of 9% above prevailing market rents. The company also completed a new 0.6 million sq ft office block in Chennai, fully committed to a US-based GCC.
Further bolstering its portfolio, Embassy REIT acquired an additional 8,048 sq ft of leased retail space in Mumbai. The REIT also raised Rs 2,050 crore in debt, including novel financing under the Reserve Bank of India's new lending framework. Its development pipeline remains substantial, with 5.6 million sq ft planned across Bengaluru and Chennai.
